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1 million), as the Tang family sells its 20th major asset this year, according to Mingtiandi’s tally. 2 billion ($408. In June 2021, ESR arch-rival GLP became the first international company to list a REIT in China when it teamed up with state-backed investment bank CICC to launch GLP C-REIT. Swire Properties is picking up a 40 percent stake in two mixed-use projects in Shanghai’s Pudong district at a combined value of $1. Singapore deputy prime minister and finance minister Lawrence Wong is now also deputy chairman of the board at GIC, the country’s sovereign wealth fund. Mingtiandi, Bangkok, Thailand. Delivering on that mission requires three components: network equipment, which manages the data flowing through the ‘pipes’ of the data centre; power infrastructure to keep the network, cooling, and IT equipment. It fell further by 7 percent to end at S$0. Owners in the freehold development located where the famed shopping. . Q Investment Partners has formed a joint venture with Soilbuild Group on a £200 million ($245. PGIM Real Estate on Wednesday announced the hiring of Eileen Yong as deputy portfolio manager for the firm’s Asia core strategy. Shimao spent GBP 54 million refitting 15 Newgate Street. James Chern, Managing Partner and Chief Investment Officer,. The offer, which was raised in late February from the initial proposal of S$0. Mainland Residential Sales Set to Shrink Through 2023 After 50% Contraction in Q1. The developer controlled by tycoon Peter. Singapore Lifts Data Centre Ban, But Will Cap Capacity, Require Efficiency. The acquisition, which was made via PREP III, was completed at a cap rate of 6. ESR has found a partner for a HK$11 billion ($1. With Mingtiandi’s 2022 Residential Forum having attracted more than 5,000 views, thanks to attendees tuning in to catch speakers from Ivanhoé Cambridge, AXA IM Alts, APG Asset Management, Greystar and more, the region’s premier event on housing markets is set to continue in 2023. Link REIT Buying Morgan Stanley European HQ From Hines for £371. The mission of a data centre is to ensure tenants can transfer data between their servers and storage devices and their end users. As part of Mingtiandi’s APAC Residential Forum 2023, which is sponsored by Yardi, Mingtiandi is proud to host a panel of experts who will explore the latest developments in the Japan market including the opportunities in developing new projects and venturing into alternative segments within the asset class. The seven-part APAC Data Centre Forum 2022 will kick off with a spotlight session where Mingtiandi founder Michael Cole will interview a. Scheduled speakers include Tim Graham, head of capital strategies for Asia Pacific at JLL; Terence Seah, director and head of Hong Kong, Singapore and Shenzhen for global design firm Benoy; and Augustine Chin, a. 8 billion since the 115-unit first phase was launched in February 2021. Blackstone’s Global Real Estate Portfolio Grew 17% in 2022 to $326B. After raising $3. MTD TV will return next on 19 October for Mingtiandi’s third annual Office Strategies Forum, with that event series featuring. Weijian Shan, Chairman & CEO, PAG. 3 billion ($2. In a nod to the area’s artisanal heritage in rattan handicrafts, the. Simply fill out the registration form below to createLogos Group has expanded its Southeast Asia footprint with the acquisition of a redevelopment site in Singapore through a S$1. Blackstone late Thursday announced a binding agreement to buy eight hotels in Japan from Kintetsu Group Holdings, in the latest case of a US fund manager teaming with a Japanese conglomerate looking to raise cash and cut costs by offloading non-core assets amid COVID-19 uncertainty. Singapore-listed LHN Group continues to add properties to its rental residential portfolio with a deal to purchase a commercial block in the city-state’s Rochor district for S$80 million ($60. Sebuah keluarga kaya asal Indonesia dikabarkan menjadi pembeli 3 rumah mewah di kawasan strategis Singapura. The reported purchase of the Zhongkun Plaza in the capital’s Haidian district by ByteDance, which is said to be valued at $75 billion, echos a similar move by Chinese e-commerce giant JD Group a week ago, with the world’s third-largest Internet firm having purchased an aging landmark hotel in the same area of Beijing for RMB 2. The Mingtiandi APAC Data Centre Forum 2023 concludes with an exclusive interview with Singapore-based green data centre operator Empyrion DC and their partner, infrastructure platform investor Seraya Partners. With the transaction, ESR will reduce its own stake in the $1. Hong Kong-based fund manager Gaw Capital Partners on Friday announced that, together with US investment management firm Invesco, it has completed the $3 billion privatisation of Invesco Office J-REIT. The properties consist of an office building in central Tokyo. US private equity firm Ares Management has made its first direct investment in Hong Kong real estate, picking up a 51 percent stake in a Kowloon office project from New World Development for approximately HK$3. 3 million). 2 billion) redevelopment project in Singapore as the Lion City’s largest telecom provider announced Wednesday that it would team up with the Australian builder to rebuild its Orchard area headquarters. Hong Kong’s Fairland Holdings Buys To Kwa Wan Retail Centre for $54M. Bernard Seng Chai Mah has been appointed as head of real estate for Asia at Davidson Kempner Capital Management in Hong Kong. Also in the news, China Evergrande has sold its yacht for $32 million as…. Mitsui is expanding in the infrastructure sector after it sold its remaining 7. 4 billion project to 40 percent while continuing to act as investment, development and asset manager, the HKEX. Ellen Ng moves up from head of China real estate. Hong Kong-listed developer Kerry Properties on Tuesday revealed details of a supersized mixed-use project in Shanghai’s central Huangpu district after acquiring the land use rights to a set of four development plots for RMB 13. Click to Follow Mingtiandi. com to list on the Shanghai Stock Exchange, marking the country’s third significant warehouse REIT as demand for logistics space continues to grow. Alibaba has filed for an initial public offering of shares in its Cainiao logistics unit on the Hong Kong exchange, a filing late Tuesday shows, after the company had announced plans for the listing in May. Link REIT is paying S$2,764 per square foot for Jurong Point. 7 million), according to market sources. The Shenzhen hotel comes under the heading of a HK$100 billion ($12. A Logos project in Singapore’s Tuas region. Prized Project. As part of the deal, the developer. Menurut Real Capital Analytics (RCA) dalam laporan Asia Pacific Capital Trends yang dikutip Mingtiandi, selama semester I/2021, volume transaksi properti. The completed deal marks the largest-ever single asset transaction in. Sino-Ocean, which saw its Sino-Ocean Capital unit default on a $20 million bank loan in. 2023 Program. Prior to that, the University of Melbourne graduate had served as a. (Source: AirTrunk) Singapore is working with both east and west as it said on Friday that Equinix, Microsoft, GDS Holdings and a tie-up between AirTrunk and ByteDance have won rights to develop new data centre projects as the city-state ends a four year moratorium. “Singapore industrial is a very good fit for our value-add strategy of. As of the end of 2022 the complex was valued at INR 23. Lendlease bested rival CapitaLand for a S$3 billion ($2. Canada’s Brookfield Asset Management on Thursday announced that it has backed a China-focused infrastructure vehicle led by Sequoia China, the mainland branch of the famed Silicon Valley venture capital firm. Share this now LinkedIn; Share;. A few months after the fraud arrest of his wife in Ho Chi Minh City, local businessman Eric Chu Nap-Kee has sold a commercial and residential site on Hong Kong island at the heavily discounted price of HK$435 million ($55. 6 billion ($407 million). 19 per square foot per month average at the end of 2022. The Boston-based fund manager has teamed up with local developer Crystal Investment. The property, which formerly belonged to a locally family, occupies a 2,202 square foot site on a 999-year leasehold which started. The properties were delivered by a “premier Japanese developer” in 2022, KKR added, without disclosing the identity of the seller or. CLI-managed CapitaLand India Trust is backing the redevelopment of International Tech Park Hyderabad, which will nearly double the leasable area in the 20-acre (8. We cover Asia's real estate developers, personalities and transactions. Mingtiandi is designed to help real estate professionals make informed decisions and gain an edge over the competition | Mingtiandi is Asia's independent source for news and information on the. 6 billion) purchase of a pair of suburban malls from Mercatus Co-operative Ltd, according to a bourse filing late Wednesday. “We can confirm that we have settled with Shimao out of court,” a UOB spokesperson said in an emailed response to Mingtiandi. com is Asia's most up-to-date and comprehensive source for news and analysis of the region's property market. Access to in-depth industry reports and insights. SC Capital Partners has announced the hiring of managing director Rai Katimansah, a 25-year veteran who will focus on the Singapore-based real estate fund manager’s debt strategies. KKR Buying 20% Stake in Singtel’s $4B Regional Data Centre Business. The Mingtiandi Singapore Focus Forum 2022 will bring market leaders face-to-face for a full-day of discussions in Singapore of the opportunities and challenges facing investors in the city-state’s real estate markets. The site on Nassim Road in Singapore where OUE developed Stephen Riady’s S$95 million new home. The fund, with a total target size of $25 billion, has already raised over $13 billion, surpassing the halfway mark. Adding to the turnover this week is a director retirement at Sun Hung Kai Properties and a new ESG voice at Singapore’s Kuok Group. Lendlease Beats CapitaLand for $2. The campus at 103 Cailun Road in Zhangjiang High Tech Park in Shanghai’s Pudong district forms part of Zhangjiang. 2023/08/17 by Christopher Caillavet Leave a Comment. At 528 metres (1,732 feet) tall, and commonly known as China Zun, the skyscraper rises above its closest rival – the China World. Also getting mentions are new board members at developers Goodman and Great Eagle in Hong Kong, as well as the passing of a top. The hotels comprise 7,124 rooms in major tourist destinations across Japan, SC Capital said. China’s economy stumbled in July as a two-month boost from easing lockdowns faded, prompting the country’s central bank to unexpectedly cut two key interest rates in an effort to shore up faltering growth. We also have a leadership transition at mainland warehouse platform China Logistic Properties, a fresh promotion at developer Swire Properties and changes at brokerages in Singapore and Kuala Lumpur. Bright Ruby Resources, an investment firm backed by Chinese billionaire Du Shuanghua, has won the tender for 16 Collyer Quay, picking up the Raffles Place office tower from NTUC Income for approximately S$1 billion ($717. 2B for Secondaries Strategies. 1 million square metres (44 million square feet) of warehouse space already developed in the. The total value of US private equity and venture capital investments in China plunged by about 76 percent year-over-year in 2022 to $7 billion from $28. 1 billion). Murata is set to join Warburg Pincus early next year, according to the memo and will lead the build-out of the firm’s Japan private equity and real estate business in. The initial joint venture targeted properties in Singapore and Indonesia, with CPPIB committing $242 million to the initiative as its first investment alongside Logos. Mingtiandi is designed to help real estate professionals make informed decisions and gain an edge. Mainland China developer Hopson Development Holdings is poised to make its first overseas acquisition after agreeing to buy a stalled residential project in New York for $113. Breaking news and analysis of Asia's real estate markets. 8 billion (then $2. The portfolio’s other holdings have included a 629,700 square foot warehouse near Warsaw acquired from Singapore sovereign. The deal, which was revealed in a joint announcement by the Warburg Pincus-backed firm. She succeeds to the position of chairman with effect from 1 March and will remain an. GLP on Friday announced the final closing of the seventh fund in the warehouse specialist’s China income fund series with RMB 5. A notice from China Construction Bank, which. Seo will be joining the pension fund giant from the Government. 5 percent, as the developer controlled by Hong Kong’s Kwok family narrowed its investment losses and reported solid residential. 8 million), with the developer planning to remake the site into luxury housing as the city-state’s high-end market continues to. 7 million), setting a city-wide record high price per square foot of buildable area as it plans to redevelop the prime site. 1 million ($7. About Mingtiandi. 6 billion in assets under management as of year-end 2022, comprising 186 properties across Asia Pacific with an occupancy rate of 96. 8 million on the distressed sale. Having gathered over 200 industry professionals at our inaugural Singapore Focus Forum in 2022, Mingtiandi returns in 2023 to once again bring together top experts in the Lion City for a full-day exploration of the opportunities and challenges facing investors in the city-state’s real estate markets. Brian Kwon, head of distribution for Asia at Dexus. At the first Mingtiandi Asia Proptech Forum 2021, three proptech professionals from Hines and Yardi discussed the key findings of the new Mingtiandi. 3 million), Mingtiandi has learned. China Aoyuan to Default on $1. Hong Kong’s Gaw Capital Partners has expanded its Asia data centre holdings with the acquisition of a Greater Tokyo property that will form part of a nearly 40MW IT campus, the firm said in an announcement on Wednesday. 5 million for a 913 square foot top floor unit, according to local property listings. 5 billion venture targeting the Asia Pacific life science real estate segment, according to a joint announcement this week. The Mingtiandi APAC Data Centre Forum 2023 concludes with an exclusive interview with Singapore-based green data centre operator Empyrion DC and their partner, infrastructure platform investor Seraya Partners. In addition to the Westlink business park in Shanghai, a property acquired by Blackstone from Singapore’s Mapletree Investments for a reported $1. Amandine Wang joins Flow from Digital Realty. Shao took on his new role with the onshore private equity division of CITIC Group after just under five years at. 1 million ($159. In July, SLB joined a group of local developers, including listed firm KSH Holdings, in acquiring the Euro-Asia Apartments along Serangoon Road for S$222 million with the consortium planning to redevelop the complex into a 172-unit condo t. Ranked as China’s 25th-largest developer by sales, Sino-Ocean. A joint venture led by developer Boustead Projects has agreed to acquire a mixed-use building near Singapore’s swanky Orchard Road for S$515 million ($371 million), taking advantage of a distressed-asset sale to pick up a prime property at a discount. Industry Moves; MTD TV Speakers; Logistics. Greentown Service Group said in a statement to the Hong Kong exchange on 30 December that its chairperson, Li Hairong. Mingtiandi is growing and we need talented team members to help us keep pace with demand for our award-winning combination of Asia real estate news and information. The property agency reports that median rents for warehouses in the city-state stood at S$1. Singapore Home Prices Crept Upwards in Q3 Despite 15% Drop in Sales. Asia Expansion. 8 miles) south of Tokyo, was purchased on behalf of the M&G Asia Property Fund and is now the. Sunway’s latest acquisition comes two months after Singaporean giant City Developments Ltd added 1,863 beds to its UK student housing portfolio with the purchase of five properties in Birmingham, Canterbury, Coventry, Leeds and Southampton for £215 million. UEL could soon be building a replacement for 79 Anson Road. Representatives of the New York-based firm confirmed the content of the memo to Mingtiandi, after the news had first been reported by Bloomberg. 9 billion in 2020, up more than 11 percent from the $60 billion in place a year earlier. Industrial specialist Logos has begun construction of a Singapore warehouse for global logistics operator DSV, with the partners investing a total of S$200 million ($147 million) in the built-to-suit project. 2B Redevelopment of Singtel HQ in Singapore. With Boustead holding a 50 percent stake, the consortium is picking up 30 Bideford Road, an. Renovation on the Way for Beijing ComplexMingtiandi reported in March 2020 that the fund had achieved a first closing near the hard cap of €150 million and had acquired 4 million square feet (371,612 square metres) of logistics space in Poland and the UK. The manager of Capitaland Integrated Commercial Trust (CICT) announced on 25 April that it has appointed Tan Boon Khai, chief executive of Singapore’s Jurong Town Corporation (JTC) as an independent, non-executive director on its board effective that same day. Mapletree Logistics Trust had S$12. (Source: Far East Organization) Bright Ruby Resources has won the tender for an en bloc redevelopment site along Singapore’s Orchard Road for a reported S$908 million ($667 million. 3 million), according to people familiar with the matter, Already the anchor tenant of the two-building leasehold facility at 12 Ang Mo Kio Street 64 in central Singapore, Apple is exercising its right. The property investment division of Sweden’s EQT is purchasing Tokyo-based Bear Logi,. “We are excited to enter the Pune office market with Goel Ganga Corporation,” said Amit Diwan, managing director and India country head at Hines. The New China Laundry building is a few doors from assets bought last year by Blackstone and JP Morgan. In January, PAG announced that it had teamed up to buy the Goldin Financial Global Centre in Hong Kong’s Kowloon Bay area from the property’s receivers for HK$5. Membership Benefits Include: Unlimited access to Mingtiandi news. Join over 17,000 real estate professionals with full access to our daily updates on the latest deals around Asia Pacific. 5 million of its 5 percent unsecured notes into new debt and equity at a discount to par. The sale came after the Chicago-based fund manager and its JV partner Angus Miller had built up a portfolio of five assets. In her new position as managing director for business. Champion REIT announced on 4 February that it has appointed former Wharf China Estates executive Christina Hau as its new chief. 2023/03/21 by Christopher Caillavet Leave a Comment. Family Buying Spree. Watch on. 1. Gaw Capital Buys 32 Japanese Residential Assets on Behalf of Qatari Fund. A consortium formed by Singapore’s SC Capital Partners with Goldman Sachs Asset Management and the Abu Dhabi Investment Authority has acquired a portfolio of 27 resort hotels in Japan from property giant Daiwa House Industry for $900 million. 5 billion ($318 million) convertible bond due on 8 October. The logistics giant raised RMB 5. 4 billion for its Blackstone Real Estate Partners X fund, making it the largest closed-end investment vehicle ever in the real estate or private equity sectors, the company announced. Collective Sales Stall The property developer controlled by tycoon Koh Wee Meng picked up the 906-room Holiday Inn London Kensington Forum hotel at 97 Cromwell Road near Kensington Garden in December to mark one of the biggest hotel deals in the city last year, according to a Savills report. Chinese financial conglomerate CITIC Group has inaugurated Beijing’s tallest skyscraper, formally known as the CITIC Tower, eight years after breaking ground. Japanese rental apartments have been one of the favourite targets of institutional real estate investors, with UBS Asset Management last month announcing a $230 million build-to-rent project in Tokyo. KIC is also expected to invest more than KRW 50 billion ($37 million) in an upcoming. Quarter-Century at Goldman. The 21-storey office block, located 27 kilometres (16. Our breaking updates on the region’s property markets are followed by industry leaders from Morgan Stanley, Blackstone, and Goldman Sachs, and we are looking for an associate editor. Half of the funds have been allocated to the mainland market, with a focus on retail-led mixed-use developments in. The two property heavyweights have agreed to invest an initial S$570 million. Bright Ruby has agreed to purchase the 276,450. 1 hectares) of land, the data centre will be built to Tier 3 standards, which require. Ellen Ng joined Warburg Pincus in 2005, and is co-head of Asia real estate for the firm. 2. 5 million ($32 million) sale of a warehouse in Jurong East to local logistics firm ST Logistics coming on the heels of sponsor ESR Group’s increased stake in the property trust. New Team for Growing Portfolio. The filings, which confirm news first reported by Mingtiandi in October, shows that M&G paid S$142 million for the biggest asset in the portfolio, 239/241 Alexandra Road, which serves as Cycle and Carriage’s regional headquarters, and shelled out S$131 million for the Mercedes-Benz Center a few blocks away at 301 Alexandra Road. Daiwa Resort operated 24 hotels across Japan. Orchard Sophia was the sole project launched in the city centre last quarter. Note: This story has been revised to clarify. Mingtiandi reported in May that two of Canada’s biggest pension funds, Ontario Teachers’ Pension Plan and British Columbia Investment Management Corp, were pausing mainland China investment amid rising tensions between Beijing and Ottawa. Join us again soon for more real estate news and be sure to follow @Mingtiandi on Twitter, or bookmark Mingtiandi’s LinkedIn page for headlines as they happen. Australian property major Dexus is extending its regional reach with the opening of a new office in Singapore and the hiring of Brian Kwon as head of. 9 million square feet. China’s DNE Group has set up an onshore fund with a total investment of RMB 6 billion ($870 million), as the Warburg Pincus-backed industrial developer looks to pursue investment opportunities in new economy infrastructure assets in key economic. Katimansah joins SC Capital from Hong Kong’s Sun Hung Kai & Co, where he was a partner and portfolio manager of Multiple Capital Investment. Lendlease bested rival CapitaLand for a S$3 billion ($2. Tokyo Trust Capital is fortifying its Japan business as the company brings on board a former BlackRock and GE Capital Real Estate executive to help lead its operations in the country. The real estate industry globally has been slower to pick up use of technology than other sectors, but the advent of the COVID-19 pandemic in 2020 helped drive rapid, and what many see as permanent change, particularly in Asia. “If investors pick their markets, assets and strategies carefully, now is. Wing Tai Holdings has won a tender for the collective purchase of a residential building in Singapore’s posh Holland Village area for S$76. Blackstone is poised to buy back a portfolio of Japanese rental apartments from troubled mainland insurer Anbang Insurance for JPY 300 billion ($2. Formerly chief executive of Singapore Land Authority before joining JTC in. The company has yet to name a replacement for Chen, who led its construction division. After opening the year selling a trio of mall properties for more than S$2. Tribeca King’s Cross will span 830,000 square feet across five buildings. 9 billion that were originally set to come due in 2025. 8 billion ($3. The land purchase is the second major acquisition by. Matthew Yao joins LaSalle after stints at PGIM and CBRE IM. More recently, an arm of South Korea’s IGIS Asset Management, also teamed up with CHA Bio Group to launch a $630 million platform for life science investments.